Capstone Green Energy Corporation on Nasdaq: CGRN
June 22, 2023
1:45 PM MDT
Capstone Green Energy Corporation on Nasdaq: CGRN
Unit Will Operate on Landfill Gas as Part of Greener Approach to Waste Management
LOS ANGELES--(BUSINESS WIRE)-- Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green Energy-as-a-Service (EaaS) solutions, announced that Micropower Europe S.L., its distributor in Spain and Portugal, has secured an order for a C800 Signature Series with a Micropower biogas treatment unit and four heat recovery modules. The unit will be operated at a landfill to produce electricity for waste management and recycling operations. It is expected to be commissioned in October 2023.
“The versatility of Capstone microturbines is evident in every new order we receive, but our customers are choosing Capstone for many of the same reasons: fuel flexibility along with high reliability on a range of fuels, low maintenance requirements, and of course, lower carbon emissions. Our customers are looking for cleaner, greener ways to approach their operations, and Capstone is here to support them in reaching their goals,” said Capstone Green Energy President and Chief Executive Officer Darren Jamison.
The modularity of Capstone’s C800S turbine design is one of the primary reasons the customer chose this product. In addition, Capstone units integrate well with other technologies, such as the heat recovery units, which will eliminate leachate at the site and protect the water table in a sensitive and remote area. Because the microturbine will be installed in a remote area, the minimal maintenance needs were another important factor in choosing Capstone. Finally, the Capstone microturbine operates predictably on different qualities of biogas. This is particularly important when using gas from the landfill, which is composed of many different gases in varied concentrations.
“This exciting and important project combines several green technologies to produce a superior environmental outcome. The customer had stringent requirements for reliability and fuel flexibility that the Capstone microturbines meet. When combined with the heat recovery modules, this is an ideal solution for the challenges the customer was looking to overcome,” said Manel Blasco, Chief Executive Officer of Micropower Europe S.L.
About Capstone Green Energy
Capstone Green Energy (NASDAQ: CGRN) is a leading provider of customized microgrid solutions, and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems, creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY22, it saved customers over $213 million in annual energy costs and approximately 388,000 tons of carbon. Total savings over the last four years are estimated to be approximately $911 million in energy savings and approximately 1,503,100 tons of carbon savings.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com.
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding growth expectations and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and departures and other changes in management and other key employees. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events, or for any other reason.
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Released May 22, 2023